Boston, MA -- (SBWIRE) -- 07/31/2014 -- Hotels saw positive developments in 2013 with marginal growth in the number of hotel rooms, 2% growth in bed nights and an increasing occupancy rate as more tourists, mostly international, chose to stay in hotels during their holidays. The positive developments in the category were strongly evident in the big cities of Copenhagen and Aarhus, showing the progression of business tourism in these cities and the growing interest of more domestic and international tourists in experiencing the city life and the many attractions these cities have to offer. The price level at hotels increased only slightly in 2013 due to a high level of consumer price-sensitivity, market competition and instability in the economic environment. Nevertheless, fuelled by general growth in hotel accommodation in Denmark, the average daily rate and occupancy rate increased for hotels in all regions of the country.
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Hotels in Denmark is set to show modest growth of 1% in constant value terms over the forecast period, reaching DKK7.8 billion by the end of 2018. Occupancy and average daily rates are expected to grow slowly as well. The major factor putting restraints on growth in hotels in Denmark will be the intense international competition in travel and tourism, where Denmark, mainly due to a high price level and a lack of '5-star' service level and other attractions, is likely to be evaluated as less attractive compared with other countries by international tourists. Fuelled by its successful strategic partnership with Tivoli, Arp-Hansen Hotel Group is projected to perform well over the forecast period, mainly due to the opening of new hotels. Arp-Hansen Hotel Group is about to open another new hotel, named Wakeup Copenhagen, in the summer of 2014. The new hotel will have 498 new rooms and will follow the concept of offering its guests low prices, a trendy design and a central location.
Discover the latest market trends and uncover sources of future market growth for the Travel Accommodation industry in Denmark with research from Euromonitor's team of in-country analysts.
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The Travel Accommodation in Denmark market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Travel Accommodation in Denmark?
- What are the major brands in Denmark?
- What is the rate of development for chained hotels vs independent hotels?
- How are luxury hotels performing compared to mid-priced and budget hotels?
- Is there an increase in hostels and campsites?
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Product coverage: Travel Accommodation by Category, Travel Accommodation by Channel.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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